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and then could be bush versus clinton again. >> governor, thank you very much. appreciate your time. >> honor to be with you. >> right now it's time for "squawk on the street." ♪ >> good tuesday morning. welcome to "squawk on the street." i'm melissa lee with carl quintanilla, jim cramer and david faber. we're live from post 9 at the new york stock exchange. a vacuum here in terms of u.s. economic data. none on top today. we're looking at a flat open across the board. as for europe, movement there. the buyback of greek debt will in fact work. we're seeing just fractions of a percent in terms of changes there. our road map this morning starts with the latest in the fiscal cliff negotiations. the white house promptly rebuffs the gop counterproposal which calls for $800 billion in new tax revenue but without tax rate increases for the wealthy. could this tax issue deadlock the talks? >>> bank of america ceo warns the cliff must get stalled or the economy could be stifled well into 2014. >>> even more dividends pushed into 2012. coach, american eagle moving up and
and then could be bush versus clinton again. >> governor, thank you very much. appreciate your time. >> honor to be with you. >> right now it's time for "squawk on the street." ♪ >> good tuesday morning. welcome to "squawk on the street." i'm melissa lee with carl quintanilla, jim cramer and david faber. we're live from post 9 at the new york stock exchange. a vacuum here in terms of u.s. economic data. none on top today. we're looking at a flat...
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and david wrote, hillary clinton is running for president. he came to that conclusion after attending a forum in washington where hillary clinton was a featured speaker and was introduced by what remnick calls a short, adoring film. the film was like an international endorsement four years in advance of the iowa caucus and the new hampshire primary. >> if you bet on the side of human rights, human dignity, more countries may have the same extraordinary good fortune that we've had. ♪ and when you smile >> someone who knows a thing or two about political comebacks, i can tell you i don't think we've heard the last of hillary clinton. ♪ girl you're amazing just the way you are ♪ >> i just have an instinct that the best is yet to come. >> joining me now, "the washington post" and jonathan capeheart. >> come on, these leaving her term as secretary of state. she's arguably been one of the best that we've had in a while. she's loved by clearly lots of people around the world, particularly foreign leaders and so there she is at this forum fille
and david wrote, hillary clinton is running for president. he came to that conclusion after attending a forum in washington where hillary clinton was a featured speaker and was introduced by what remnick calls a short, adoring film. the film was like an international endorsement four years in advance of the iowa caucus and the new hampshire primary. >> if you bet on the side of human rights, human dignity, more countries may have the same extraordinary good fortune that we've had. ♪ and...
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we'll talk with former republican senator it alan simpson, and clinton white house chief of staff, erskine bowles, who chaired the first deficit reduction commission. they're concerned about the dangers ahead. so concerned that simpson took to the dance floor to urge young people to get involved. we'll also get the take of rising democratic star cory booker, the mayor of newark. what's his answer to the washington gridlock? and is he planning a run for governor against chris christie. for analysis, we'll turn to joe klein of "time" magazine. "washington post" columnist michael gerson, and our own norah o'donnell and major garrett, our chief white house correspondent. it's all ahead on "face the nation." captioning sponsored by cbs from cbs news in washington, "face the nation" with bob schieffer. >> schieffer: good morning, again. well, to the famous combos of modern life, from mac and cheese, peanut butter and jelly, rum and coke, bread and butter, and salt and pe pepper, add one more pair simpson-bowles. alan simpson may be in wyomingy and erskine bowles in north carolina but you can't m
we'll talk with former republican senator it alan simpson, and clinton white house chief of staff, erskine bowles, who chaired the first deficit reduction commission. they're concerned about the dangers ahead. so concerned that simpson took to the dance floor to urge young people to get involved. we'll also get the take of rising democratic star cory booker, the mayor of newark. what's his answer to the washington gridlock? and is he planning a run for governor against chris christie. for...
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>> it's not just the clinton tax rates. we had a pretty good economy under bill clinton. >> different spending rates, too, back then, governor. >> well, that's right. it's also cuts in defense which we haven't had in 30 years and a cut in human services, which i'd rather not do, but i think everybody needs to something on the table to get what we need to get. it's the best deal for the country. we'll have a recession. the cbo thinks and i agree with this, we'll have 1.3% negative growth for two quarters and we'll go back with a slightly less than 2% growth rate for the entire. we're not going to get out of this without pain. anybody when thinks we'll get through the deficit problem without having to do some sacrificing is wrong. what this does in my view as a democrat is it distributes the burden of the pain fairly, that is, we go back to the clinton tax rates for everybody, not just for rich folks. and we had a good economy under bill clinton. we go back -- we get -- cuts in defense spending which we know is higher than it
>> it's not just the clinton tax rates. we had a pretty good economy under bill clinton. >> different spending rates, too, back then, governor. >> well, that's right. it's also cuts in defense which we haven't had in 30 years and a cut in human services, which i'd rather not do, but i think everybody needs to something on the table to get what we need to get. it's the best deal for the country. we'll have a recession. the cbo thinks and i agree with this, we'll have 1.3%...
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in fact from kennedy to reagan to clinton to w. bush lower tax rates frequently increased tax revenues, particularly at the upper end of the income stream. so here now to discuss this we have cnbc contributor keith boykin a former clinton white house aide and forbes media chairman steve forbes author of freedom manifesto, why free markets are moral and big government is not. love that. hey steve and keith. keith boykin i'll give you a little supply side. you'll hate this. this couples from the irs. the irs is going to use the bush cut, the dreaded bush tax cuts. the richest 1% paid $84 billion inflation adjusted dollars more between 2000 and 2007. that's a rise of 23%. in other words, their tax rates went down. and their tax revenues went up. now, isn't mr. obama making a mistake? >> well, the rich are paying more in taxes because the rich are disproportionately receiving most of the income in this country. the reality, larry, is that in my lifetime we've actually only raised income tax rates three times. once in 1969 to pay for th
in fact from kennedy to reagan to clinton to w. bush lower tax rates frequently increased tax revenues, particularly at the upper end of the income stream. so here now to discuss this we have cnbc contributor keith boykin a former clinton white house aide and forbes media chairman steve forbes author of freedom manifesto, why free markets are moral and big government is not. love that. hey steve and keith. keith boykin i'll give you a little supply side. you'll hate this. this couples from the...
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we need to go back to the clinton era rates for the most well off americans. it's not going to kill us. the line between freedom and tyranny is not the 35 we pay now and the 39 that the rich will pay as we did when america was a communist paradise. it's just silly now. you've got to be for a tax rate increase or we will go over this fiscal cliff. >> no, you don't. you could raise from a carbon tax of $20 a ton, which will deal with, we are having the biggest record carbon levels. you could raise -- at 4% a year over the next ten year, twice as much as you could from allowing the bush tax rates to lapse. why the income tax system is overburdened in the united states. we use it too much. we should be looking at other taxes. we can't do it in 29 days. why are we doing it in 29 days? >> but the president ran on >> the republicans must agree to higher tax rates on well off americans. all the way to the 39.6 that the president, they have to. that's the ticket for admission because the president won the election and campaigned on that. the democrats are going to have
we need to go back to the clinton era rates for the most well off americans. it's not going to kill us. the line between freedom and tyranny is not the 35 we pay now and the 39 that the rich will pay as we did when america was a communist paradise. it's just silly now. you've got to be for a tax rate increase or we will go over this fiscal cliff. >> no, you don't. you could raise from a carbon tax of $20 a ton, which will deal with, we are having the biggest record carbon levels. you...
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senator alan simpson are republican and former white house chief of staff for president clinton erskin bowles a democrat came up with a possible solution what they came up with is known to those even outside of the ball outside the beltway as the simpson bowles or the bull simpson plan depending on which way you see it and despite falling short of passing it off and took center stage and talks about the economy for most of the year expression leave during the presidential campaign governor what about simpson bowles you support simpson bowles simpson bowles the president should have grabbed that i mean do you support some simple i have my own plan it's not the same as in symbols but in my view the president should have grabbed it if you want to make some adjustments to that take it go to congress fight for it that's what we've done made some adjustments to it and we're putting it forward before congress right now but even though you everyone now has now heard of the plan very few people actually know what's in it r t political correspondent christine frizz out took a look through the pl
senator alan simpson are republican and former white house chief of staff for president clinton erskin bowles a democrat came up with a possible solution what they came up with is known to those even outside of the ball outside the beltway as the simpson bowles or the bull simpson plan depending on which way you see it and despite falling short of passing it off and took center stage and talks about the economy for most of the year expression leave during the presidential campaign governor what...
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one american official after another declaring a red line against the country president obama hillary clinton leon panetta and a host of other american officials have threatened action if chemical weapons are used in the country but behind the curtain of rhetoric are real doubts of what weapon syria actually has and whether the u.s. is really willing to get involved in yet another conflict in the middle east r t international correspondent diane chicana and asks if the allegations are enough for military action. u.s. officials said intelligence agencies have detected that assad's government has been preparing its chemical weapons stockpiles for possible use the obama administration's message to syria the u.s. is ready to act if you make the tragic mistake of using these weapons there will be consequences and you will be held accountable there will be consequences. there will be consequences we have sent a an unmistakable message that this would cross a red line next how does america the media quickly picked up on the alarming news of the syrian government's alleged plans citing secret intelli
one american official after another declaring a red line against the country president obama hillary clinton leon panetta and a host of other american officials have threatened action if chemical weapons are used in the country but behind the curtain of rhetoric are real doubts of what weapon syria actually has and whether the u.s. is really willing to get involved in yet another conflict in the middle east r t international correspondent diane chicana and asks if the allegations are enough for...
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he worked as chief of staff in the clinton white house on the domestic policy council. he was the chief officer of the progressive policy institute. i want to remind you of a piece that came out before the election. people will clamor him to pursue a grand bargain. you can respond to any or all of that. guest: paul krugman is not a fan. i wish he would sit down with them and go into more details. there are some things he may not be aware of. on taxes, we'd do lower rates. this seems to be a problem for some people to grasp. how can you lower rates will we need more revenue? you do that by broadening the base. economists, a lot of them disagreed on the positive impact of simplifying the tax code or tax reform. most agree there is some evidence. we have some studies based on the 1986 tax reform plan. that impacted gdp in a positive way by about one percentage point. there is no consensus, but there is a general understanding there is a benefit. anyone who has done their taxes can understand this. the time alone to do your taxes, even with the great software, we have 70% o
he worked as chief of staff in the clinton white house on the domestic policy council. he was the chief officer of the progressive policy institute. i want to remind you of a piece that came out before the election. people will clamor him to pursue a grand bargain. you can respond to any or all of that. guest: paul krugman is not a fan. i wish he would sit down with them and go into more details. there are some things he may not be aware of. on taxes, we'd do lower rates. this seems to be a...
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a return to that, what we saw during the clinton years. what will that do to the economy? >> it will hurt, but it is necessary. let me make a few points. first, i think tax reform is obviously better than raising tax rates. raising the top marginal tax rate is less desirable than try to scale back reductions in the tax code. i think there are some reasonable approaches to tax reform. working for the day, going to -- i wish were king for the day, going through the code to decide what is good and what is bad. given that is not going to be the case, i think a proposal like maya's or even the president's is reasonable, and there is a lot of agreement for tax reform. $800 billion fromth the republicans. i think it is $600 billion from the president. i think there is room here for compromise. the second that i will say is that this tax reform will not generate enough revenue. $4 trillion. by my calculation, we do not need $4 trillion, but it is a bigger number than just tax reform will be able to generate, so in that context, we will have to let tax rates rise, and if we had to
a return to that, what we saw during the clinton years. what will that do to the economy? >> it will hurt, but it is necessary. let me make a few points. first, i think tax reform is obviously better than raising tax rates. raising the top marginal tax rate is less desirable than try to scale back reductions in the tax code. i think there are some reasonable approaches to tax reform. working for the day, going to -- i wish were king for the day, going through the code to decide what is...
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on friday secretary of state hillary clinton criticized the israeli construction plan as well saying it will set back the cause of the negotiated peace. today state department spokesman mark toner echoed clinton's warning. >> we consider these kinds of actions, these kinds of unilateral decisions to be counterproductive and make it harder to resume direct negotiations. >> suarez: israeli settlers dismissed the outside criticism. instead they said there should be no stopping the construction for any reason. >> this announcement is actually called for. the big question is why do we need to do these things as a reaction to something? if we believe in our ability, in our need to build and expand the land of israel then that's what we should do regardless of what the other side is doing. >> suarez: an israeli government planning meeting on the new settlement is expected later this week. actual construction could still be months or even years away. for more on what the possible construction of this settlement could mean for the stalled peace process, i'm joined by david makovsky of the was
on friday secretary of state hillary clinton criticized the israeli construction plan as well saying it will set back the cause of the negotiated peace. today state department spokesman mark toner echoed clinton's warning. >> we consider these kinds of actions, these kinds of unilateral decisions to be counterproductive and make it harder to resume direct negotiations. >> suarez: israeli settlers dismissed the outside criticism. instead they said there should be no stopping the...
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the real core of what clinton had was they cut spending. their percentage of spending to gdp was so much less, and that's where they got out of it. that agreement in '97 cut taxes and cut spending, which spurred growth. and we need a pro-growth economy. that's how we're going to get out of this mess. what we're talking about today, of just raising the taxes, does not solve the problem. i don't see it passing the house. now, republicans have not sat back. we've put revenue on the table. but the president has always said it has to be a balanced approach. >> if you can choose, if you could choose, what's -- i mean we've heard -- we've heard from their side, from the other side, and i'm talking about from your viewpoint, secretary geithner. >> yes. >> has said, we -- if we don't get the 2% -- if we don't get the rise on rates on the 2% we'll go over the fiscal cliff. in your view would it be better to go over the fiscal cliff than to get the back to the clinton rates on the high end? >> i think the best thing we don't go over the fiscal cliff.
the real core of what clinton had was they cut spending. their percentage of spending to gdp was so much less, and that's where they got out of it. that agreement in '97 cut taxes and cut spending, which spurred growth. and we need a pro-growth economy. that's how we're going to get out of this mess. what we're talking about today, of just raising the taxes, does not solve the problem. i don't see it passing the house. now, republicans have not sat back. we've put revenue on the table. but the...
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bill clinton, number 50. no hillary clinton or not list. way down at number 65, below the colombian drug deale erdealer, . boehner. boehner that low? >> it's remarkable. there is some subjectivity that goes with this but i think that's very interesting. the other folks that you mentioned. bloomberg fascinates me. >> bloomberg more power than bainer? really? >> i don't know about more power but think about the interesting position that bloomberg's in. he's got a year left on this third term that he has figured out a way to have. he's a publisher. he's a 15th richest guy -- most powerful guy on our list, one of the richest men in the world. >> and a quick thought on ilan musk -- we've heard his name but he doesn't get a lot of attention. why is he in the top 70? >> when you think about the entrepreneurial ethos that forbes tries to represent, the people, places and companies that we try to describe an entrepreneurs in particular, here's a guy who founded paypal. here's a guy who's at the front of the tesla automobile. he's now moving cargo th
bill clinton, number 50. no hillary clinton or not list. way down at number 65, below the colombian drug deale erdealer, . boehner. boehner that low? >> it's remarkable. there is some subjectivity that goes with this but i think that's very interesting. the other folks that you mentioned. bloomberg fascinates me. >> bloomberg more power than bainer? really? >> i don't know about more power but think about the interesting position that bloomberg's in. he's got a year left on...
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when you look at the news today hillary clinton met with the russian foreign minister, syria's biggest ally is russia. if russia tells them you have to calm down they'll calm down. >> you think they're going lower. are you buying or selling oil slide? logon to futuresnow.cnbc.com and vote in our poll, we'll give you the results on our website and while there catch today's show, we have investment guru curtis arlidge of bny mellon and tune in to that and doug cass will reveal how he's playing apple's wild ride today at 1:00 p.m. futuresnow.cnbc.com. >> see you at the top of the hour on cnbc.com. >>> coming up halftime fund managers doing fancy trading to give portfolios a temporary boost and are you, the investor, left holding the bag? jpmorgan's tom lee on track to hit his 2012 s&p target, we'll ask him what's next for the market own your money when halftime comes back. o o. >>> welcome back. will quarter end she nan ganz be hurting your money? some portfolio managers are bidding up stocks the second before a quarter ends, those stocks see temporary pops and the managers can point to b
when you look at the news today hillary clinton met with the russian foreign minister, syria's biggest ally is russia. if russia tells them you have to calm down they'll calm down. >> you think they're going lower. are you buying or selling oil slide? logon to futuresnow.cnbc.com and vote in our poll, we'll give you the results on our website and while there catch today's show, we have investment guru curtis arlidge of bny mellon and tune in to that and doug cass will reveal how he's...
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you get to secretary of state hillary clinton warning the u.s. was prepared to act if syria used chemical weapons if they're using them, so then what -- run through possible scenarios for me? >> well, the u.s. always said its red line is the use of chemical weapons. and of course you can imagine that people at the state department and other agencies in washington are very much looking into whether or not syria is simply moving stockpiles around, or preparing for some sort of use. if syria indeed, which is saying it's not going to do, uses the weapons out of desperation, because here you have some rebel strongholds that is not bowing to the syrian regime, despite the fact that it is repeatedly conventionally bombed. when you reach a level where there is desperation for a regime that feels everything around it is crumbling, the question is what will it use in order to try in some desperate last ditch measure to protect itself. that is the concern. the u.s. has always said this is a concern because it is not just within the borders of syria, that it
you get to secretary of state hillary clinton warning the u.s. was prepared to act if syria used chemical weapons if they're using them, so then what -- run through possible scenarios for me? >> well, the u.s. always said its red line is the use of chemical weapons. and of course you can imagine that people at the state department and other agencies in washington are very much looking into whether or not syria is simply moving stockpiles around, or preparing for some sort of use. if syria...
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secretary of state clinton said it would be a redlinebe for united states. back with the panel. it seems like this is serious today. the president weighing in. and the secretary of state. and action on the ground in syria increasing. >> no question they took the rhetoric to another level. there was a piece talking about how they consider a bolder approach on syria. to there was a precipitating event. the defection of the spokesman. either way, we are looking at white house obama administration taking this more seriously. the problem they face is a problem that they face in the sense of the last several months. the words don't mean as much now. they have been calling for assad to go for a year-and-a-half. they have been making the threats. very little of it has come to pass. there is very little action that supported the rhetoric over the course of the past year-and-a-half. if the stepped up rhetoric and hillary clinton identifying the use of chemical weapons as a redline which is well understood might give assad pause and people under him pause. it's the kind of situation where
secretary of state clinton said it would be a redlinebe for united states. back with the panel. it seems like this is serious today. the president weighing in. and the secretary of state. and action on the ground in syria increasing. >> no question they took the rhetoric to another level. there was a piece talking about how they consider a bolder approach on syria. to there was a precipitating event. the defection of the spokesman. either way, we are looking at white house obama...
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mayor clinton? >> probably not. >> new york city is looking for a mayor. >> maybe something with a little more beach front property the next few years before thinking about iowa. >> i don't know. you're watching "starting point." we'll take some guesses. 0 calor? your world. ♪ [ whispers ] real bacon... creamy cheese... 100 calories... [ chef ] ma'am [ male announcer ] progresso. you gotta taste this soup. when you take a closer look... ...at the best schools in the world... ...you see they all have something very interesting in common. they have teachers... ...with a deeper knowledge of their subjects. as a result, their students achieve at a higher level. let's develop more stars in education. let's invest in our teachers... ...so they can inspire our students. let's solve this. point." this just in, a school bus carrying children has crashed into a pole in seminole county, florida. this is from wftv who spoke to the florida highway patrol. troopers told them the children were taken off the bus.
mayor clinton? >> probably not. >> new york city is looking for a mayor. >> maybe something with a little more beach front property the next few years before thinking about iowa. >> i don't know. you're watching "starting point." we'll take some guesses. 0 calor? your world. ♪ [ whispers ] real bacon... creamy cheese... 100 calories... [ chef ] ma'am [ male announcer ] progresso. you gotta taste this soup. when you take a closer look... ...at the best schools...
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want to ask you, one of the parts of the red line statement by president obama and secretary of state clinton, that if there was movement of any chemical weapons of mass destruction, movement -- now, as i listen to what you're saying, there hasn't been movement. it looks like they're getting ready where they are, but they haven't moved yet, so maybe they haven't violated the red line exactly. >> that's right, larry. they've got everything in place to do that. but what are the possibilities here? u.s. military officials say it would be very difficult to target certain areas. there are possibilities if they're going to load them on the planes. they could use cruise missiles to attack airstrips, for example. they can't blow up the weapons sites themselves, otherwise then the deadly gases could be spread among the public and kill thousands. the only other option according to some people that i've been talking to over the past couple of days is possibly take those cruise missiles and aim them not only at the airport strips, but at regime targets. even perhaps president assad himself. but so far, w
want to ask you, one of the parts of the red line statement by president obama and secretary of state clinton, that if there was movement of any chemical weapons of mass destruction, movement -- now, as i listen to what you're saying, there hasn't been movement. it looks like they're getting ready where they are, but they haven't moved yet, so maybe they haven't violated the red line exactly. >> that's right, larry. they've got everything in place to do that. but what are the...
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then they create this this thing it was because bowles was never elected to anything he was just a clinton staffer fact he got knocked down twice and twice he was defeated i don't know why these guys represent anybody but anyhow they said panetta burns because leon panetta used to be a clinton staffer and burns was a republican senator westerners a republican senator so they said well what do you think of the panetta burns strategy twenty five percent of americans support that thirty nine percent support simpson bowles doesn't this tell us something about the whole lane and americans are and how they want to agree with that nice fellow who's asking the question you think you think that was i want to look smart i think if the issue is that they want to look smart they want to look like they're in the know yes i can remember going there is nothing about this a lot of people are busy raising kids watching t.v. working and they want to participate in politics and they go no i can't agree with you and as a result of thirty five years or greater nomics both people the family are working they're
then they create this this thing it was because bowles was never elected to anything he was just a clinton staffer fact he got knocked down twice and twice he was defeated i don't know why these guys represent anybody but anyhow they said panetta burns because leon panetta used to be a clinton staffer and burns was a republican senator westerners a republican senator so they said well what do you think of the panetta burns strategy twenty five percent of americans support that thirty nine...
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restoring the clinton tax rates is something i would support. we supported them back in 1991 when bill clinton was running for president. no problem on that. it is a reasonable adjustment, but may not be sufficient to reach the targets we need, and it does not help us in bipartisan bargaining, reaching a deal. i hope as this negotiation -- we ought to be at the irish times -- that they will not make a fetish of marginal tax rates if they should go up some, but do they need to go back where they were? i do not know. lots of ways to increase taxes on rich people, and it may be that a hybrid of marginal tax increases and the kind of base- broadening, loophole closing, expenditure closing that simpson-bowles proposed should be part of the mix. raising marginal rates does not guarantee you will get your intended target. very rich people depend more on investment income than on their labor income. if you want to get them -- and this is where mitt romney was able to pay a 14% tax rate on earnings of $14 million -- so if you are trying to get the super-
restoring the clinton tax rates is something i would support. we supported them back in 1991 when bill clinton was running for president. no problem on that. it is a reasonable adjustment, but may not be sufficient to reach the targets we need, and it does not help us in bipartisan bargaining, reaching a deal. i hope as this negotiation -- we ought to be at the irish times -- that they will not make a fetish of marginal tax rates if they should go up some, but do they need to go back where they...
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the clinton world is not sitting quietly, though. t "the new york times" kicked off what is likely to become a monthly exercise by somebody in the media. we may come up with a meter. probably throw in jeb in there, right? we should call it the hillary jebatron version 2016. probably jon stewart starting that up already. jodie cantor interviewed a number of clinton aides about future plans and strikingly a lot of them talked. while clinton has dozens of options when she leaves the state department, cantor makes a smart observation. she is a big constraint. the more serious she is about 2016 the less she can do. no frank, seen it all memoir, no clients, commissions that could prove problematic in the 2016 primaries or the general. instead cantor reports that secretary clinton is considering writing an upbeat look at her time as secretary of state. not a painful examination of her failed 2008 bid as she once proposed. likely to be quoted in a handful of clinton aides willing to go on the record with "the times" even when asked questions
the clinton world is not sitting quietly, though. t "the new york times" kicked off what is likely to become a monthly exercise by somebody in the media. we may come up with a meter. probably throw in jeb in there, right? we should call it the hillary jebatron version 2016. probably jon stewart starting that up already. jodie cantor interviewed a number of clinton aides about future plans and strikingly a lot of them talked. while clinton has dozens of options when she leaves the...
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you can't return to clinton prosperity only raising taxes on 2%. it's different for all taxpayers. am i right? >> you're almost entirely wrong. >> why would raising just on the 2% get us back to the clinton prosperity you're talking about? we can't return to the spending levels either. >> getting to a sound fiscal position is necessary to protect the economy. if we don't do that, as this economy recovers, that recovery is going to be aborted and that's going to do damage. then the question is how you get there, and the president believes that we should raise revenues with a tax system that has been proven in the past to go along with very substantial -- >> you can't conflate the two. you have the entire -- >> joe, joe, if you go back to this, i'm not sure what you're arguing. >> raising on 2% is different than the other structure. >> the reason it's different is that the tax rate on everybody else is going to be lower. >> right. so you don't have nearly as much money to balance the budget in the '90s. >> many other things have changed in the interim and we have set as a framework a
you can't return to clinton prosperity only raising taxes on 2%. it's different for all taxpayers. am i right? >> you're almost entirely wrong. >> why would raising just on the 2% get us back to the clinton prosperity you're talking about? we can't return to the spending levels either. >> getting to a sound fiscal position is necessary to protect the economy. if we don't do that, as this economy recovers, that recovery is going to be aborted and that's going to do damage. then...
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this offer more bipartisan credibility, speaker boehner said the plan is based on a proposal by former clinton chief of staff erskine bowles. bowles said he was flattered by the use of his name but satsz the proposal, quote -- so far, this greek fiscal drama has yet failed to return. the larger question for america, the play ends in tragedy on december 31st. joining me now from washington, is the president for -- president of americans for tax reform, conservative counter broker and the man who does not believe in unicorns, pink or otherwise, mr. grover norquist. grover, what a day to have you on the show. thanks for joining us. >> absolutely. of course, you know, north korea and -- media announced they did find unicorns in north korea. >> we don't often take our cues from them. i am one that firmly believes in the existence of unicorns somewhere and hopefully maybe in this fiscal cliff deal. grover, the first question i have for you is this, your pledge, the pledge that many republicans have signed on to, opposes any and all efforts to increase marginal income tax rates and opposes any net re
this offer more bipartisan credibility, speaker boehner said the plan is based on a proposal by former clinton chief of staff erskine bowles. bowles said he was flattered by the use of his name but satsz the proposal, quote -- so far, this greek fiscal drama has yet failed to return. the larger question for america, the play ends in tragedy on december 31st. joining me now from washington, is the president for -- president of americans for tax reform, conservative counter broker and the man who...
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we always talk about the 1993 income tax of president clinton, and the top tax rate was 39.6%. threshold, $250 thud. so flash forward from 1993 to present, okay. well let me tell you something, there is this little thing called inflation. i know this might be nitpicking. but $250,000 today well, started out if you want to be apples to apples would be about $165,000 then. in other words, we are not adjusting even for inflation. so, if we're talking about $250,000 today being the same as then, we're wrong. it would be $165,000. so the point is, is that the difference between these two is $85,000. okay? is a 35% miss when it comes to being honest about it. oh, even worse let's take this. how many times, of course you've heard a million times, taxes on million favors and billionaires, even though, and i know this is adjusted, okay, but let's just keep it $250,000. well, 250 grand isn't a million. so it's off by 750-k over 1 million. okay? so, in essence, what we're doing is we're off on this one by 75%. we're off by 35% and 75%. so why am i doing this? because i'll tell you what, m
we always talk about the 1993 income tax of president clinton, and the top tax rate was 39.6%. threshold, $250 thud. so flash forward from 1993 to present, okay. well let me tell you something, there is this little thing called inflation. i know this might be nitpicking. but $250,000 today well, started out if you want to be apples to apples would be about $165,000 then. in other words, we are not adjusting even for inflation. so, if we're talking about $250,000 today being the same as then,...
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Dec 5, 2012
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to go back to the clinton era rates. you get rid of three quarters of the deficit just on tax increases at that point. >> and he says you get defense cuts. >> you can't get defense cuts any other way. and he's not the only one. there's a lot of people on the left and there's quite a few people on the right. i'm glad you're optimistic and a lot of ceos and guys in your position -- if you run a company, you don't need consumers petrified and business people petrified. this is the last thing we need if you run a company. i understand you have a horse in the game. >> but you also have the double trigger. if you go over the cliff, we've got the debt ceiling fight right afterwards. it's not like that's six months down the line. that's in if first month, six weeks of the new year. >> the other thing, depending on where you stand, the idea that we just get rid of congressional approval of the debt ceiling at all, which is that ludicrous proposal that was in the president's plan. that's not -- and would you really want that? woul
to go back to the clinton era rates. you get rid of three quarters of the deficit just on tax increases at that point. >> and he says you get defense cuts. >> you can't get defense cuts any other way. and he's not the only one. there's a lot of people on the left and there's quite a few people on the right. i'm glad you're optimistic and a lot of ceos and guys in your position -- if you run a company, you don't need consumers petrified and business people petrified. this is the last...
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>> i think that -- i have so much respect and admiration for hillary clinton, secretary clinton has done an amazing job as secretary of state. i know she's earned and deserves and looking forward to the well-earned rest she's planning to take and she's an incredible leader who has a tremendous future as a leader of the united states of america. >> well, if you looked at the video that introduced her at the forum on friday night here, a the lot of people are suggesting that well-earned rest is only going to be a prelude to something else down the road and not -- >> we'll give her a little time to rest and then i'm sure that she'll be pressed into service and knowing secretary clinton, i'm sure she doesn't plan to rest very long. >> thanks very much. >> thank you. >> thank you, congresswoman. >> and coming up next, why won't the president sit down with john boehner? more from that new interview with president obama, next. [ fishing rod casting line, marching band playing ] [ male announcer ] the rhythm of life. [ whistle blowing ] where do you hear that beat? campbell's healthy request sou
>> i think that -- i have so much respect and admiration for hillary clinton, secretary clinton has done an amazing job as secretary of state. i know she's earned and deserves and looking forward to the well-earned rest she's planning to take and she's an incredible leader who has a tremendous future as a leader of the united states of america. >> well, if you looked at the video that introduced her at the forum on friday night here, a the lot of people are suggesting that...
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new reports that hillary clinton got a special job pitch. apparently so did david petraeus and neither one took the advice. new york city mayor michael bloomberg's successor will have big shoes to fill according to "the new york times." bloomberg called secretary of state hillary clinton a few months ago to encourage her to enter the 2013 new york city mayoral race. but reportedly told the mayor she has no interest in the job. as deputy mayor there howard wolf son, former senior adviser to hillary clinton's presidential campaign in 2008. mayor bloomberg isn't the only 0 one giving out advice. this is great. it's bob woodward, heads are exploding as i speak. let me get to the story. woodward reports that roger ales, the chairman and founder of fox news, encouraged general david petraeus to run against obama in the 2012 election. last spring asked fox news analyst to make the pitch while she was traveling with petraeus. in a recording of the conversation between mcfarland and petraeus mcfarland can be heard saying that ales advises petraeus to
new reports that hillary clinton got a special job pitch. apparently so did david petraeus and neither one took the advice. new york city mayor michael bloomberg's successor will have big shoes to fill according to "the new york times." bloomberg called secretary of state hillary clinton a few months ago to encourage her to enter the 2013 new york city mayoral race. but reportedly told the mayor she has no interest in the job. as deputy mayor there howard wolf son, former senior...
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yesterday secretary of state hillary clinton repeated her warning that the u.s. is ready to take swift action. >> our concerns are that increasingly desperate assad regime might turn to chemical weapons or might lose control of them to one of the many groups that are now operating within syria. we have sent an unmistakable message that this would cross a red line. and those responsible would be held to account. >> u.s. officials stress the chemical bonds remain in storage depots and president assad has not issued any warning to use them. egypt is going into political turmoil after intense clashes on the doorstep of the presidential palace. it's the largest confrontation the country has seen since the revolution that overthrew mubarak. tens of thousands of supporters of president morsi remain divided. critics of morsi say he's attempting to establish a new dictatorship by rushing through a new constitution with an islamic agenda. >>> the loss of american jazz legend. you probably recognize his song you're hearing now. "take five" of dave brubeck. he died yesterday
yesterday secretary of state hillary clinton repeated her warning that the u.s. is ready to take swift action. >> our concerns are that increasingly desperate assad regime might turn to chemical weapons or might lose control of them to one of the many groups that are now operating within syria. we have sent an unmistakable message that this would cross a red line. and those responsible would be held to account. >> u.s. officials stress the chemical bonds remain in storage depots and...
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when you say talk to going to the clinton rates. you're missing clinton tech boom. clinton levels of spending. when you take that into account it doesn't actually end up closing your gap when it comes to something which some other clinton alumni pointed out this week is a $86 trillion in unfunded liabilities for entitlements. >> that number is essentially fake. >> a lot of times when we're discussing this stuff, it is fake because government refuses to put it on the books because they don't want to acknowledge it exists. >> that is not it. >> my point being i don't want to only talk about simplifying when we're not actually closing the gap. i don't want to only talk about the fiscal cliff when nothing we're doing is coming close to deal with these issues. melissa: we talk about how hard it is to simplify the tax code. our guest before you guys said the same thing. it could be really simple. we could put out three rates for people with absolutely no deductions exceptions. if you're in this group you pay 35% or whatever. make up your number. >> right. melissa: if you'
when you say talk to going to the clinton rates. you're missing clinton tech boom. clinton levels of spending. when you take that into account it doesn't actually end up closing your gap when it comes to something which some other clinton alumni pointed out this week is a $86 trillion in unfunded liabilities for entitlements. >> that number is essentially fake. >> a lot of times when we're discussing this stuff, it is fake because government refuses to put it on the books because...
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. >> meanwhile as nato prepares to deploy patriot missile defenses to turkey, hillary clinton warns syria against moving its chemical weapons. >> this is a red line for the united states. i'm not going to telegraph in any specifics what we are would do in the event of credible evidence that the assad regime has resorted to using chemical weapons against their own people, but suffice it to say, we are certainly planning to take action if that eventuality were to occur. >> and while washington buzzes over this video tribute to clinton, some are asking is it a farewell to the secretary or prelude to 2016? honoring the icons. politics meets hollywood. a tribute to the arts. president obama finds a way to salute an eclectic group of honor honorees. >> we've got my guy sitting next to dustin hoffman. dave letterman alongside one of the greatest ballerinas of all time. i couldn't think dave dances. there's no smooth transition from ballerina to led skep lin. they redefine the rock and roll lifestyle. we do not have video of this. there was some hotel rooms trashed and mayhem all around. so it's
. >> meanwhile as nato prepares to deploy patriot missile defenses to turkey, hillary clinton warns syria against moving its chemical weapons. >> this is a red line for the united states. i'm not going to telegraph in any specifics what we are would do in the event of credible evidence that the assad regime has resorted to using chemical weapons against their own people, but suffice it to say, we are certainly planning to take action if that eventuality were to occur. >> and...
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secretary clinton says the russians have refused to give him asylum. other countries have offered but so far he is not negotiating his exit. assad has vowed to fight to the death. >> pelley: margaret, thank you. when the syrian people first rose up it looked like a mismatch. they had rifles against one of the largest armies in the region. syrian towns have been turned into rubble, and the rebels are in the suburbs of the capital damascus now. it is rare for reporters to reach the war zone, but elizabeth palmer managed to get to the dictatorship's main military hospital to look at the damage being inflicted on assad's army. >> reporter: the tishereen it hospital morgue in northern damascus now receives between 20 and 50 bodies every day. most of them are soldiers. though some civilians do end up here, too. the man in the coffin is adnan said a civil servant who was 30 years old. outside, his mother and brother have just learned that he was killed by a sniper on his way to work. in the hospital's intensive care unit the men can't speak, but their injurie
secretary clinton says the russians have refused to give him asylum. other countries have offered but so far he is not negotiating his exit. assad has vowed to fight to the death. >> pelley: margaret, thank you. when the syrian people first rose up it looked like a mismatch. they had rifles against one of the largest armies in the region. syrian towns have been turned into rubble, and the rebels are in the suburbs of the capital damascus now. it is rare for reporters to reach the war...
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secretary of state clinton talking tough as violence rages. what is the president thinking? is obama ready to else aside? details ahead. fiscal close fights, competing proposals. no formal talks said. since when did leaders talk about talking but not sit down at the center will. what is wrong with obama and banner? did they really think this is a good -- a game? ♪ ♪ [ male announcer ] it started long o. the joy of giving something everything you've got. it takes passion. and it's not letting up ytime soon. if you're eligible for medicare, you might know it only coversbout 80% of your part b medical expenses. the rest is up to you. call now and find out about an aarp medicare supplement insurance plan, insured by unitedhealthcare insurance company. like all standardized medica supplement plans, they help pay some of the difference. and could save you in out-of-pocket medical costs. you'll be able to visit any doctor or hospital that accepts medare patients. plus, there are no networks, and you never need a referral to see a specialist. so don't wait. call now to reques a
secretary of state clinton talking tough as violence rages. what is the president thinking? is obama ready to else aside? details ahead. fiscal close fights, competing proposals. no formal talks said. since when did leaders talk about talking but not sit down at the center will. what is wrong with obama and banner? did they really think this is a good -- a game? ♪ ♪ [ male announcer ] it started long o. the joy of giving something everything you've got. it takes passion. and it's not...
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plus, hillary clinton in 2016. some stunning numbers about the ground work and john mcafee on the run as his neighbor is found murdered. our martin savidge went on the hunt, tracked him down. he's "outfront." e emts gave me. now, i'm on a bayer aspirin regimen. [ male announcer ] be sure to talk to your doctor before you begin an aspirin regimen. [ woman ] learn from my story. [ female announcer ] holiday cookies are a big job. everything has to be just right. perfection is in the details. ♪ get to holiday fun faster with pillsbury cookie dough. get to holiday fun faster energy is being produced to power our lives. while energy development comes with some risk, north america's natural gas producers are committed to safely and responsibly providing generations of cleaner-burning energy for our country, drilling thousands of feet below fresh water sources within self-contained well systems. and, using state-of-the-art monitoring technologies, rigorous practices help ensure our operations are safe and clean for our
plus, hillary clinton in 2016. some stunning numbers about the ground work and john mcafee on the run as his neighbor is found murdered. our martin savidge went on the hunt, tracked him down. he's "outfront." e emts gave me. now, i'm on a bayer aspirin regimen. [ male announcer ] be sure to talk to your doctor before you begin an aspirin regimen. [ woman ] learn from my story. [ female announcer ] holiday cookies are a big job. everything has to be just right. perfection is in the...
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a warning that secretary clinton repeated at nato again today. >> our concerns that are increasingly desperate assad regime might turn to chemical weapons. or might lose control of them to one of the many groups that are now operating within syria. >> reporter: now officials say they believe that those warnings did work so far. they are concerned, though, about the rising influential extremist groups. so the state department is preparing to decision nature one group because of the close ties to al-qaeda in iraq. still, secretary clinton announced they will take a big step, recognizing the main opposition group as the sole legitimate representative of the syrian people, even as they tighten the noose on assad. >>> andrea, thank you, while we wish we had better news to report, with that in mind, the situation in egypt, the violence, the president fleeing the palace looks very familiar. the president today tried to urge the egyptians to settle their differences peacefully. our chief correspondent richard engel saw it firsthand, standing by in cairo tonight, good evening, richard. >> rep
a warning that secretary clinton repeated at nato again today. >> our concerns that are increasingly desperate assad regime might turn to chemical weapons. or might lose control of them to one of the many groups that are now operating within syria. >> reporter: now officials say they believe that those warnings did work so far. they are concerned, though, about the rising influential extremist groups. so the state department is preparing to decision nature one group because of the...
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now, president clinton was the there, i was there. they didn't come to see me, of course. they came to see not president clinton, they came to see jim webb because he was doing the impossible. he had captivated the voters. he was unafraid. he spoke his mind. and, oh, what a smart man. i'm -- i marvel at the intelligence of jim webb, his ability to learn and to express his ideas. as i said, he captivated the voters. that's really why he won the race that he should have been able to win. once he was elected, it was a marvel to watch. he believed he could change the world. he did change several corners of the world. let me give one example. he was a new senator and he came to me, he said, i have an idea. now, jim webb isn't a person who just focuses on an idea and walks away from it. when jim webb came to see me, he had the legislation that he had drafted. wasn't sent to some bill drafter to have them look it over. he drafted the legislation himself. what did he want to do? he wanted to introduce a post-9/11 g.i. bill of rights, because the one for the second world war and ko
now, president clinton was the there, i was there. they didn't come to see me, of course. they came to see not president clinton, they came to see jim webb because he was doing the impossible. he had captivated the voters. he was unafraid. he spoke his mind. and, oh, what a smart man. i'm -- i marvel at the intelligence of jim webb, his ability to learn and to express his ideas. as i said, he captivated the voters. that's really why he won the race that he should have been able to win. once he...
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secretary clinton today tried to get the egyptians to resolve their differences peacefully ull. our chief correspondent richard engel saw it firsthand, standing our chief correspondent richard engel saw it firsthand, standing by in cairo tonight, good evening, richard. >> reporter: good evening, brian, the egyptian president, mohamed morsy, supporters of the muslim brotherhood want a strong president and want more islamic law. his opponents say the president is forcing an islamic agenda down their throat. and today, the two sides clashed. on the doorstep of egypt's presidential palace, leading clashes, the fighting injured hundreds. the fighting is very fluid, sometimes the anti-morsy demonstrators, those right here will make advances just a few yards then get driven back. there are no police here, they are just two sides facing each other in the streets. as one side advances the other retreats. demonstrators kept police from the scene. there is still mistrust here, during the revolution of hosni mubarak. there were cheers as the police withdrew mubarak. >> when the egyptian peo
secretary clinton today tried to get the egyptians to resolve their differences peacefully ull. our chief correspondent richard engel saw it firsthand, standing our chief correspondent richard engel saw it firsthand, standing by in cairo tonight, good evening, richard. >> reporter: good evening, brian, the egyptian president, mohamed morsy, supporters of the muslim brotherhood want a strong president and want more islamic law. his opponents say the president is forcing an islamic agenda...
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buick as well as former clinton special counsel davis. the president campaigns on $800 billion in new taxes. he now wants 1.6 trillion. he wants twice the amount, lanny. he wants a blank check and congress to give up its authority as it relates to money and say no, no, let me raise the debt ceiling any time i want. he wants 150 billion in new stimulus but no entitlement cuts at all, no spending cuts at all. now that sounds to me like somebody that's not serious. >> i don't know where to begin to correct some of what you just said, but let me at least start with ronald ra reagan. >> tell me where i'm wrong. >> you're certainly wrong that he didn't campaign to cut 98% of the american people's taxes with the upper 2% paying. he won the election based on that explicit proposal. >> and the house from their election -- the house won their election to stop him. the house also won, lanny. >> 535 congressional districts, most of which have little opposition, exain capture be cao voting for president. >> they did not vote to give him a rubber stamp
buick as well as former clinton special counsel davis. the president campaigns on $800 billion in new taxes. he now wants 1.6 trillion. he wants twice the amount, lanny. he wants a blank check and congress to give up its authority as it relates to money and say no, no, let me raise the debt ceiling any time i want. he wants 150 billion in new stimulus but no entitlement cuts at all, no spending cuts at all. now that sounds to me like somebody that's not serious. >> i don't know where to...